Dye Sensitized Solar Cell Market: Overview
The global dye sensitized solar cells (DSSCs) market is gaining from the growing awareness among consumers about the adverse environmental impacts of fossil fuels, coupled with the increasing demand for energy from renewable sources. Dye sensitized solar cells, along with photovoltaic cells, represent the third generation of solar technologies, which are expected to offer added functionality at lower cost.
Dye sensitized solar cells are thin film solar cells that are available at a low cost. A DSSC has numerous attractive features: It is semi-transparent and semi-flexible and offers various uses but none applicable to glass-based systems. DSSCs are made using conventional roll-printing techniques and the majority of materials used in it are available at a pocket-friendly price.
The introduction of new advances in the next few years will help outperform the emerging solar cell platforms, both in terms of economies of scale and performance. Hence, enterprises operating in the DSSC market will need to focus on niche segments that will allow them to achieve growth in the near future. As with other emerging technologies, cost benefits may not be immediately obvious owing to low volume of production. Nevertheless, it is of interest to technology developers, material providers, as well as adopters to closely follow the DSSC market and understand its impact on the market for sustainable energy.
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The report presents a comprehensive overview of the global dye sensitized solar cells market. It studies the growth trajectory exhibited by the market between 2016 and 2023. The factors influencing the demand for DSSCs are studied in detail. The report also presents an in-depth analysis of the prevailing competitive landscape.
Dye Sensitized Solar Cell Market: Key Opportunities and Threats
The rising demand for solar energy is the key factor boosting the global dye sensitized solar cell market. The market is also gaining from the recent technological advancements that have resulted in the lowered cost of production. Manufacturers of dye-sensitized solar cells are presently concentrating on indoor or portable applications; they are thus expected to explore opportunities in major application segments such as electronics, outdoor advertising, automotive, bus shelters, and steel roofing.
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The increasing environmental concerns due to the rising carbon emissions are also expected to fuel demand from the global dye-sensitized solar cells market over the forecast period. Furthermore, the market is also expected to gain impetus from the increasing demand for building integrated photovoltaic system (BIPV).
Despite witnessing favorable growth opportunities worldwide, the growth exhibited by the global DSSCs market will be inhibited by issues pertaining to their performance limitations. There is a marked difference between the best performance reported by DSSCs when compared to technologies that have been under development for a longer period of time. The emerging technologies are seen to exhibit better efficiency levels. It is thus considered important for the enterprises operating in the market to identify suitable initial applications for DSSCs in order to achieve faster commercialization.
Dye Sensitized Solar Cell Market: Region-wise Outlook
Regionally, the global dye sensitized solar cell market is led by Europe. The European Commission’s aim of reducing the reliance on fossil-based fuel and encouraging clean energy projects is expected to boost the DSSCs market in the region. Additionally, the introduction of the latest technologies and the high rate of implementation in BIPV and portable electronics applications is further expected to steer the demand for dye sensitized solar cells in the near future.
During the forecast period, Asia Pacific is expected to report the highest CAGR among all regional markets.
Dye Sensitized Solar Cell Market: Competitive Insight
To study the prevailing competitiveness in the market the report profiles companies such as Fujikura Ltd., Konica Minolta Sensing Europe B.V., and 3GSolar Photovoltaics.
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